Mr. Johan Wattenstrom reports

DEFI TECHNOLOGIES' SUBSIDIARY VALOUR TO LIST FOUR DIGITAL ASSET ETPS ON BRAZIL'S B3 EXCHANGE

Defi Technologies Inc.'s subsidiary, Valour Inc., and Valour Digital Securities Ltd. have received approval from B3 S.A. -- Brasil, Bolsa, Balcao (B3) to list four digital asset exchange-traded products (ETPs) via BDR on ETP.

• Valour's Brazil debut: Defi Technologies' subsidiary Valour has received approval from B3 to list four digital asset ETPs -- Valour Bitcoin (BTCV), Valour Ethereum (ETHV), Valour XRP (XRPV) and Valour SUI (VSUI) -- expected to begin trading on Dec. 17, 2025, giving Brazilian investors Brazil-real-denominated, locally listed exposure via their existing brokerage and custody rails.
• Global platform, new region: With 100 ETPs already listed across major European exchanges, Valour's entry into Brazil marks its first major foothold outside Europe and a key step in a broader expansion strategy targeting Latin America, Africa, the Middle East, Asia and other developing regions.
• Tapping a top-tier market: Leveraging Brazil's position as Latin America's largest crypto economy and its maturing regulatory framework, Valour aims to offer institutional-grade, exchange-traded access to digital assets on B3, aligning with growing demand from both retail and institutional investors.

Valour's Brazilian ETPs -- Valour Bitcoin (BTCV), Valour Ethereum (ETHV), Valour XRP (XRPV) and Valour SUI (VSUI) -- are scheduled to begin trading on B3 on Dec. 17, 2025. The new listings will be marked by a bell-ringing ceremony at market close on the floor of the B3 exchange in Sao Paulo Brazil on Dec. 19. The products will provide Brazilian investors with locally listed, Brazilian-real-denominated exposure to Valour's leading digital asset ETPs via the same brokerage and custody rails they already use for equities and ETFs.

Valour's ETP platform expands into Brazil

Valour currently offers approximately 100 digital asset ETPs across Europe and continues to operate the largest selection of digital asset ETPs globally, listed on major venues including Spotlight Stock Market (Sweden), Borse Frankfurt (Germany), SIX Swiss Exchange (Switzerland), London Stock Exchange (England) and Euronext (Paris and Amsterdam). Its lineup spans:

• Layer 1 and Layer 2 networks;
• Modular data availability and tokenization infrastructure;
• Gaming and creator ecosystems;
• Community and governance tokens.

This provides diversified digital asset exposure within regulated, exchange-traded market rails.

The approval to list BTCV, ETHV, XRPV and VSUI on B3 via BDR on ETP represents a key step in Valour's international expansion strategy, which includes Latin America, Africa, the Middle East, Asia and other developing regions globally. Brazil marks Valour's first major foothold outside of Europe, with B3 serving as a regional hub for equities, ETFs and an increasingly broad suite of digital asset-linked products and derivatives.

Brazil: a strategic market

Brazil has emerged as Latin America's largest and most cohesive financial market, with more than 213 million people connected through a single language (Portuguese) and a unified regulatory and capital-markets infrastructure. It is also the region's largest crypto economy, with an estimated $318.8-billion (U.S.) to $319-billion (U.S.) in crypto assets transacted between July, 2024, and June, 2025, accounting for roughly one-third of all crypto activity in Latin America. According to Chainalysis's 2025 Global Crypto Adoption Index, Brazil now ranks fifth worldwide, reflecting rapid growth in both retail and institutional usage.

This surge in activity is taking place under a maturing regulatory framework. Brazil's Virtual Assets Act (law No. 14,478/2022) and subsequent decrees have formally recognized crypto assets, appointed the Central Bank of Brazil as the primary regulator of virtual asset service providers, and introduced new rules in 2025 that extend financial-sector standards and AML/CTF requirements to crypto intermediaries.

Against this backdrop, Valour's regulated, exchange-traded BDR on ETPs on B3 aim to provide Brazilian institutions with institutional-grade access to digital assets, combining transparent on-exchange pricing, local settlement and familiar governance standards.

Management commentary

"Brazil is one of the most important and fastest-growing digital asset markets globally, and B3 is at the centre of that growth," said Johan Wattenstrom, chief executive officer and executive chairman of Defi Technologies and co-founder of Valour. "Listing Valour's BTCV, ETHV, XRPV and VSUI products on B3 is a natural extension of our European franchise and a foundational step in our broader expansion into Latin America and other high-growth regions. We believe Brazilian institutional and retail investors want regulated, exchange-traded access to digital assets, and our ETP platform is designed precisely to meet that need."

"Across Europe, Valour has built the world's largest shelf of digital asset ETPs, and we see similar demand patterns beginning to emerge in Brazil," said Andrew Forson, president of Defi Technologies and chief growth officer of Valour. "By providing local listings of our core ETPs, we offer Brazilian investors product exposure which over time, we expect to grow to support additional Brazilian listings, structured products and solutions tailored to the region's rapidly developing investment market."

About B3 Exchange

B3 S.A. -- Brasil, Bolsa, Balcao is the Brazilian stock exchange and one of the main financial market infrastructure companies in the world. Headquartered in Sao Paulo and listed on its Novo Mercado premium segment under the ticker B3SA3, B3 organizes and enables trading, clearing, settlement, registration and depository services across equities, derivatives and over-the-counter markets, as well as data and technology services.

About Defi Technologies Inc.

Defi Technologies is a financial technology company bridging the gap between traditional capital markets and decentralized finance (DeFi). As the first Nasdaq-listed digital asset manager of its kind, Defi Technologies offers equity investors diversified exposure to the broader decentralized economy through its integrated and scalable business model. This includes Valour, which offers access to 100 of the world's most innovative digital assets via regulated ETPs; Stillman Digital, a digital asset prime brokerage focused on institutional-grade execution and custody; Reflexivity Research, which provides leading research into the digital asset space; Neuronomics, which develops quantitative trading strategies and infrastructure; and Defi Alpha, the company's internal arbitrage and trading business line. With deep expertise across capital markets and emerging technologies, Defi Technologies is building the institutional gateway to the future of finance.

About Valour Inc.

Valour and Valour Digital Securities issues exchange-traded products (ETPs) that enable retail and institutional investors to access digital assets in a simple and secure way via their traditional bank account. Valour is part of the asset management business line of Defi Technologies.

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